SpaceX Stock Rebounds Nearly 4% as Reported $8 Billion Spectrum Deal Rattles Telecom Stocks

Space Exploration Technologies (NASDAQ: SPCX) shares rose nearly 4% to $166.80 in Friday premarket trading after the company agreed to acquire nationwide wireless spectrum licenses from Grain Management in a deal reportedly valued at approximately $8 billion.

The advance recovered most of Thursday’s 4.19% decline, which had left the stock at $160.57.

The acquisition, announced after the market closed on Thursday, would give SpaceX access to low-band frequencies needed to expand its Starlink Mobile service into a nationwide wireless network capable of competing with established U.S. telecom carriers.

Separately, SpaceX Tokenized bStocks (SPCXB) was quoted at $166.71, down 0.40% over 24 hours, according to CoinMarketCap. The tokenized instrument trades separately from Nasdaq-listed SPCX shares, and its 24-hour performance covers a different trading period than regular stock-market returns.

$8 Billion Spectrum Deal Expands Starlink Mobile’s Reach

Under the definitive agreement, SpaceX will acquire 100% of Grain Management’s nationwide 800 MHz spectrum portfolio, covering up to 14 megahertz of paired frequencies. The companies did not disclose financial terms, but The Wall Street Journal reported that SpaceX would pay approximately $8 billion in cash. The transaction requires Federal Communications Commission (FCC) approval and other customary closing conditions. 

The low-band spectrum addresses a technical limitation in satellite-based mobile networks. SpaceX’s existing 2 GHz mid-band spectrum provides high data capacity, while 800 MHz frequencies travel farther and penetrate walls more effectively. Combining both would allow Starlink Mobile to deliver service through satellites and ground-based infrastructure, including indoor locations where direct satellite connections can struggle.

Most existing smartphones already support the 800 MHz band, potentially allowing customers to access the planned network without specialized equipment. 

CEO Elon Musk described the purchase on X as “the last critical piece of the spectrum puzzle” needed to provide complete phone coverage across America. The development advances SpaceX’s plans to move beyond supplementing existing cellular networks and compete directly for mobile subscribers.

Telecom Stocks Fall as Tower Operators Gain

Telecommunications stocks reacted differently to the expansion plans on Thursday evening. AT&T (T) fell 6.75%, T-Mobile US (TMUS) declined 5.4%, and Verizon Communications (VZ) lost 5% in an after-hours snapshot. The selloff continued into Friday’s premarket session as the industry faced the prospect of another nationwide wireless competitor. 

Meanwhile, American Tower (AMT), Crown Castle (CCI), and SBA Communications (SBAC) gained between 3% and 4.5% in Thursday’s extended trading. Their advance reflected the possibility that SpaceX could lease existing tower infrastructure for the terrestrial portion of its network.

That infrastructure remains a major execution consideration. Morgan Stanley analysts said the spectrum acquisition signals a more aggressive expansion strategy, although competition would likely emerge gradually, starting in rural markets. A broader urban network would require additional ground facilities and investment.

Earlier Spectrum Deal and Satellite Authorization

Notably, Grain acquired the same 800 MHz portfolio from T-Mobile in August, exchanging cash and its 600 MHz spectrum holdings. Those frequencies could now support a new competitor to the carrier that previously owned them. 

SpaceX’s acquisition announcement also followed a separate regulatory milestone. On Tuesday, the FCC authorized a dedicated Starlink Mobile constellation of up to 15,000 next-generation satellites, designed to provide direct-to-device connectivity using ordinary smartphones.

SpaceX said the V2 satellites would deliver more than 100 times the bandwidth of its current mobile generation. Deployments are scheduled to begin in 2027, but some spectrum permissions remain conditional, including requirements linked to SpaceX completing its earlier EchoStar license acquisition.